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20VC Insight
Max Simkoff: Admitting Uncertainty to Staff is Comforting During Crises
“In times of crisis, people like to assume that leaders Have a very specific strategy and they've mapped everything out and they know what to do. And the reality is like, we're just winging it. And sometimes when you tell people that that's what you're doing, t…”
Max Simkoff Feb 18, 2021 ▶ 22:39 20VC Special: The Real Estate Fintech OGs on Why This Is Not The End For The Bay Area and What Can Be Done To Solve It, The Pros and Cons of Working with Corporate Investors and How Leading Their Teams Has Fundamentally Changed in a COVID World
20VC Assertion Supported
Simkoff: States Title became the eighth-largest US title business in five years
“We're only four or five years old now, but have already become the eighth largest title in closing business in the United States, and well on our way to becoming number one.”
Max Simkoff Feb 18, 2021 ▶ 4:15 20VC Special: The Real Estate Fintech OGs on Why This Is Not The End For The Bay Area and What Can Be Done To Solve It, The Pros and Cons of Working with Corporate Investors and How Leading Their Teams Has Fundamentally Changed in a COVID World
20VC Insight
Simkoff: Naivete is a founder's most dangerously powerful skill
“The more you know about an industry, the more reasons you have not to start a company or grow a business, right? It's too hard. Did you like understand the competitive landscape? I don't know if you remember this conversation, but we talked about how like naiv…”
Max Simkoff Feb 18, 2021 ▶ 6:11 20VC Special: The Real Estate Fintech OGs on Why This Is Not The End For The Bay Area and What Can Be Done To Solve It, The Pros and Cons of Working with Corporate Investors and How Leading Their Teams Has Fundamentally Changed in a COVID World
20VC Insight
Simkoff: VCs resist specialization because they hate extinguishing option value
“The one thing VCs hate is extinguishing option value. So, like, when you're in a meeting with them, you're like, what's your typical investment size? Well, we do Series B and C. You're like, oh, we're looking for And they're like, oh, we do seed investments to…”
Max Simkoff Feb 18, 2021 ▶ 6:51 20VC Special: The Real Estate Fintech OGs on Why This Is Not The End For The Bay Area and What Can Be Done To Solve It, The Pros and Cons of Working with Corporate Investors and How Leading Their Teams Has Fundamentally Changed in a COVID World
20VC Prediction Not checkable as stated
Simkoff: The Bay Area will grow stronger despite recent tech exodus
“This area is going to only get stronger as a result of the dynamic change that's going through.”
Max Simkoff Feb 18, 2021 ▶ 12:31 20VC Special: The Real Estate Fintech OGs on Why This Is Not The End For The Bay Area and What Can Be Done To Solve It, The Pros and Cons of Working with Corporate Investors and How Leading Their Teams Has Fundamentally Changed in a COVID World
20VC Disclosure
Simkoff: Lennar became States Title's largest shareholder after selling them a business
“Our largest single shareholder, still a minority shareholder, but the largest shareholder on our cap table is Lenar, who Fifth Wall introduced us to, and they became our largest shareholder because we bought their legacy title business, which gave us a ton of …”
Max Simkoff Feb 18, 2021 ▶ 29:32 20VC Special: The Real Estate Fintech OGs on Why This Is Not The End For The Bay Area and What Can Be Done To Solve It, The Pros and Cons of Working with Corporate Investors and How Leading Their Teams Has Fundamentally Changed in a COVID World
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